Forsta AP Fonden Grows Position in Elevance Health, Inc. $ELV

Forsta AP Fonden increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 8.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 95,220 shares of the company’s stock after buying an additional 7,520 shares during the quarter. Forsta AP Fonden’s holdings in Elevance Health were worth $33,379,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ELV. Sei Investments Co. increased its stake in shares of Elevance Health by 7.7% during the second quarter. Sei Investments Co. now owns 163,668 shares of the company’s stock worth $63,666,000 after buying an additional 11,745 shares during the period. Glenview Trust co increased its stake in shares of Elevance Health by 41.5% during the second quarter. Glenview Trust co now owns 1,619 shares of the company’s stock worth $630,000 after buying an additional 475 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Elevance Health by 6.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,945 shares of the company’s stock worth $25,650,000 after buying an additional 4,272 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Elevance Health by 5.0% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,371 shares of the company’s stock worth $16,478,000 after buying an additional 2,012 shares during the period. Finally, Quantinno Capital Management LP increased its stake in Elevance Health by 111.8% in the second quarter. Quantinno Capital Management LP now owns 43,911 shares of the company’s stock valued at $17,080,000 after purchasing an additional 23,180 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Evercore reiterated a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. Robert W. Baird increased their price target on shares of Elevance Health from $317.00 to $331.00 and gave the company a “neutral” rating in a research note on Thursday, April 23rd. UBS Group increased their price target on shares of Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Finally, Sanford C. Bernstein increased their price target on shares of Elevance Health from $384.00 to $424.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $403.11.

Elevance Health Price Performance

ELV stock opened at $394.40 on Friday. The company has a market capitalization of $85.65 billion, a P/E ratio of 16.78, a PEG ratio of 2.22 and a beta of 0.66. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $408.00. The business has a 50 day simple moving average of $343.75 and a 200-day simple moving average of $338.90. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.70.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, beating the consensus estimate of $10.74 by $1.84. The business had revenue of $49.49 billion during the quarter, compared to the consensus estimate of $48.21 billion. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The company’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned $11.97 earnings per share. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, equities analysts anticipate that Elevance Health, Inc. will post 26.94 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th will be issued a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, June 10th. Elevance Health’s dividend payout ratio is presently 29.26%.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.